Immunefi: The cryptocurrency industry suffered losses of $1.64 billion in Q1 due to hacker attacks, setting a new historical record

according to The Block, data released by the Web3 vulnerability bounty platform Immunefi shows that in the first quarter of 2025, there were a total of 40 hacking incidents, resulting in cryptocurrency losses of $1.64 billion, a record high.

In comparison, the first quarter of 2024 saw an increase of 4.7 times, when hackers stole approximately $348.3 million, despite a 36% decrease in the number of attacks, dropping from 63 to 40 incidents. Most of the losses came from Bybit's $1.46 billion hacking incident, while losses from other attacks were around $176 million, a nearly 50% year-on-year decrease.